Bengaluru-based workspace management and co-working solutions provider, IndiQube has announced that it has taken around one lakh sq ft of office space in Chennai on lease from real estate developer Ocean Lifespaces. 

The new facility, located in Guindy, will be the maiden collaboration between the two entities.

“Chennai has been fast emerging as one of the preferred destinations for companies with start-up friendly policies, a burgeoning real estate industry and a flourishing enterprise culture,” SK Peter, Director, Ocean Lifespaces said, in the release.

“According to a recent report of International Property Consultants, Chennai’s net absorption nearly doubled on a QoQ basis to 0.53 Mn Sq.ft in Q1-2022. Chennai is expected to add nearly 14.2 Mn sq. ft of office space over the next three years which presents a significant market opportunity to Ocean Lifespaces” he added.

Rishi Das, Cofounder, IndiQube said, “We see an immense potential in Chennai, especially in micro markets like Guindy, and our collaboration with Ocean Lifespaces is a testimony for the same. This will be our fourth property in Guindy & fifth in Chennai as a whole.”  

In March, IndiQube announced signing up of nearly 1-lakh Sq ft of office space in Coimbatore in Tamil Nadu.